Withdrawals can take up to five business days from the time they are requested to the time you see funds arrive in your bank account. Behind the scenes, when we receive a withdrawal request, here’s what happens:
- Sell order - Farther submits a sell order to cover the withdrawal amount requested. We submit the sell order on the same day as your withdrawal request if your request is received before our sell orders are sent out; otherwise, we’ll submit your sell order on the next trading day.
- Settlement - When trade requests are made, there is a period of time to allow the trade to “settle” before the trade is final. Because Farther uses ETFs as the underlying investments for your account, the settlement period mandated by the SEC is two days or T+2.
- ACH transfer - Once the cash is settled in your account and available for transfer, we initiate an ACH transfer to your bank account. This transfer typically occurs on the same day as it is made but may take another day to post to your account.